Market Overview for Manchester City Fan Token/Tether (CITYUSDT)

Summary
• Price opened at 0.648 and closed at 0.627 over 24 hours.
• A sharp decline below key support at 0.625 saw high volume and bearish confirmation.
• RSI and MACD signaled oversold conditions, hinting at potential near-term reversal.

The Manchester City Fan Token/Tether (CITYUSDT) opened at 0.648 on 2025-11-13 at 12:00 ET and closed at 0.627 on 2025-11-14 at 12:00 ET, with a high of 0.649 and a low of 0.612. Total volume for the 24-hour window was 658,008.75, and notional turnover reached approximately 408,669.00, reflecting active trading during the bearish breakdown.

Structure & Formations

Price action on the 15-minute chart displayed a strong bearish bias after breaking below 0.625, which acted as a critical support level. Several long bearish candles, including a large bearish engulfing pattern between 20:45–21:00 ET, confirmed the downward momentum. A potential double-bottom formation began to form near 0.612, suggesting a temporary oversold condition could bring buyers into the market.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained above the current price for much of the session, indicating bearish divergence. On the daily chart, the 50-period moving average crossed below the 100-period and 200-period averages, a bearish signal that reinforced the negative sentiment.

MACD & RSI

The MACD indicator showed a “death cross” after 04:45 ET, with the line crossing below the signal line amid declining prices. RSI dropped below 30 in the late hours of the session, indicating oversold conditions and potential for a short-term bounce. However, the RSI has not yet crossed back above 30, so the bearish trend remains intact.

Bollinger Bands

Price action stayed well below the lower band for most of the session, suggesting heightened volatility. A contraction in the bands occurred briefly before the sharp drop, which often precedes a breakout or breakdown.

Volume & Turnover

Volume spiked during the bearish breakdown between 20:30–05:00 ET, with the largest single 15-minute volume at 29,395.41 at 04:45 ET. Notional turnover followed a similar pattern, confirming the strength of the downward move. Divergence between price and volume was minimal, indicating a strong bearish consensus.

Fibonacci Retracements

Applying Fibonacci levels to the key bearish move from 0.649 to 0.612, the price currently sits near the 61.8% retracement level at 0.628. A rebound above this level may test the 78.6% retracement near 0.637, which could serve as a potential resistance for buyers.

Backtest Hypothesis

Given the bearish divergence observed in the MACD and the strong volume confirmation during the breakdown, a backtest using a MACD death-cross entry and a trailing stop-loss at the 20-period rolling low could be considered. Testing this strategy on a 15-minute chart of CITYUSDT between 2022-01-01 and 2025-11-13 would provide insight into its effectiveness in capturing short-term bearish moves.